Ghana climbs 13 points up the global trade rank

By Godwill Arthur-Mensah, GNA 

Accra, Oct. 18, GNA – Mr Carlos Kingsley
Ahenkorah, a Deputy Minister of Trade and Industry, says the transformative
policies of the Government has moved Ghana from 167 in 2016 to 154th position
in 2017 in the ranking of the World Bank Trade across Border Report.

The increase in the country’s ranking, he
said, could be attributed to the reduction in the time and cost of import
procedures from two weeks to 48 hours and 50 dollars respectively, per
consignment under the National Single Window platform.

He said similar improvements were registered
in the World Bank Logistics Performance Index (LPI), where Ghana rose 12 places
from 100th in 2014 to 88th position in 2016, the highest improvement since the
survey was launched in 2017.

The Deputy Trade and Industry Minister made
this known when he addressed exporters and stakeholders at the 78th National
Exporters’ Forum in Accra on Wednesday.

Mr Ahenkorah said government would continue to
remove barriers to trade and ensure the country’s export regime flourish.

He said exporters played an indispensable role
in the economy through influencing the level of economic growth, employment and
the balance of payments.

The Deputy Minister said the Ministry had
outlined a number of strategic interventions, which included the National
Industrial Revitalization Programme with a stimulus fund of $200 million to
support distressed but commercially viable companies, the One District, One
Factory Initiative and the Export Development and Diversification Programme.

He explained that the Export Development and
Diversification component of those initiatives espoused the need to evolve a
clear national exports strategy aimed at diversification, competitiveness, and
the development of more export markets for an expanded range of products.

Mr Ahenkorah observed that the various trade
policies implemented by the Government had enabled trade activities to increase
in the past few years, adding that the economy grew from 3.7% in 2016 to about
8.3% in 2017, and it is expected to further grow by the end of this year.

He said the implementation of the National
Single Window (GNSW) and subsequent roll out of the paperless ports system had
cut down the time for business transactions at the port.

“The best trade facilitation processes regime
has become the hallmark of this government’s administration.

“We’re working hard to further improve
efficiency at the port,” he emphasised.

GNA

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